Host Hotels & Resorts swings to profit after asset sale gain

SarahTurner

LONDON (MarketWatch) -- Real estate investment trust Host Hotels & Resorts Inc.
HST, +0.89%
swung to a first-quarter net profit of $172 million, or 44 cents a share, after recording hotel sale gains of $146 million, or 39 cents a share. Last year, the company produced a net loss of 2 million, or 1 cent a share. Funds from operations rose 42% to 27 cents a share, while comparable hotel RevPAR increased 7.6%. The company expects earnings per share of between 58 cents and 60 cents for the second quarter and between $1.44 to $1.52 for 2006.

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